A joint statement says the two Koreas agreed to establish buffer zones along their land and sea borders to reduce military tensions and prevent accidental clashes.
The statement signed by the countries' defense chiefs also says the Koreas agreed to withdraw 11 guard posts from the Demilitarized Zone by December with the aim of removing them eventually.
The statement says the Koreas also agreed to no-fly zone above the military demarcation line that bisects the two Koreas that will apply to planes, helicopters and drones.
Seoul has been stressing the importance of reducing the conventional military threat between the Korea to prevent accidental clashes that can escalate into a nuclear conflict.
The statement was issued following the Pyongyang summit between North Korean leader Kim Jong Un and South Korean President Moon Jae-in.
South Korean President Moon Jae-in says the Koreas have agreed to establish a joint military committee to evaluate how to reduce tensions and maintain communication to defuse crises and prevent accidental clashes.
Moon said Wednesday the plans for the committee are part of a commitment to remove "any threat that could cause war" on the Korean Peninsula. He was speaking following the Pyongyang summit with North Korean leader Kim Jong Un.
Moon's government has been stressing the importance of reducing the conventional military threat between the Korea to prevent accidental clashes that can escalate into a nuclear conflict.
The Koreas first agreed to form a joint military committee in 1991, but the plans weren't carried out due to turbulent relations between the rivals.
A Joint statement says the two Koreas have agreed to seek to obtain the rights to co-host the 2032 Summer Olympics.
The statement was released by Seoul on Wednesday after a Pyongyang summit between South Korean President Moon Jae-in and North Korean leader Kim Jong Un.
It says the two leaders also agreed to cooperate in major sports events such as the 2020 Summer Olympics. It didn't elaborate.
It says the two leaders have also agreed on a Pyongyang art troupe visiting Seoul for performances in October.